Transparency Market Research (TMR) has published a new report titled, ‘Durable medical equipment (DME) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to the report, the global durable medical equipment (DME) market was valued at US$ 153.1 Bn in 2018 and is projected to expand at a CAGR of 6.2% from 2019 to 2027.
Overview
· Durable Medical Equipment (DME) is any equipment that provides therapeutic benefits to a patient in need because of certain medical conditions and/or illnesses. Durable Medical Equipment (DME) consists of items which are primarily and customarily used to serve a medical purpose.
· DME includes, wheelchairs (manual and electric), hospital beds, traction equipment, canes, crutches, walkers, kidney machines, ventilators, oxygen, monitors, pressure mattresses, lifts, nebulizers, electrical blankets etc.
· North America dominated the global durable medical equipment (DME) market in 2018 and the trend is anticipated to continue during the forecast period. Highly structured health care industry, research, and treatment platforms, rising incidence of chronic and cardiovascular diseases, and presence of a large number of manufacturers are expected to drive the market in North America.
· Asia Pacific is likely to be a highly lucrative market for durable medical equipment (DME) and it is expected to expand at a high CAGR during the forecast period
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High Incidence of Major Chronic Diseases and Increase in Geriatric Population to Drive Market
· Growing incidence of cardiac disorders, cancer, ophthalmic ailments, gynecological complications and neurological conditions helps to drive the product demand over the forecast period. Better coverage and reimbursement policies for DME products are also likely to help boost the DME market growth.
· In addition, rising number of elderly care centers as a result of increasing geriatric population base across the globe is projected to drive the DME market further. Adults have low immunity level and more prone to cardiac, skeletal and neurological problems, which increases the need for long-term hospital stay for recovery. According to a report by the U.S. Census Board in 2016, people aged 60 years or above represented nearly 18% of the country’s total population and the percentage is projected to increase to 21% by 2030. Such factors is likely to drive the growth of this market
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Personal Mobility Devices Segment to Dominate Market
· Based on equipment type, the global durable medical equipment (DME) market has been divided into personal mobility devices, bathroom safety devices, medical furniture and monitoring and therapeutic devices. The personal mobility devices segment has been bifurcated into medical beds, matress, strechers, lift chairs and others. The combination pills segment dominated the global durable medical equipment (DME) market in 2018 and the trend is projected to continue during the forecast period. Rising incidence rates of infectious and chronic diseases such as sexually transmitted and chronic obstructive pulmonary diseases, diabetes, and cancer are major factor for to boost the market growth.
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Hospitals to be Highly Lucrative Segment
· In terms of end-user, the global durable medical equipment (DME) market has been classified into hospitals, long term care centers, ambulatory surgical centers, home care setting and others. The hospitals segment dominated the durable medical equipment (DME) market due to increasing number of hospitals and rising investments in the health care sector by governments of developing countries are likely to fuel the segment during the forecast period.
North America to Dominate Global Market
· In terms of region, the global durable medical equipment (DME) market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global durable medical equipment (DME) market in 2018, followed by Europe.
· North America accounted for major share of the global durable medical equipment (DME) market in 2018, owing to high adoption rate of technologically advanced product, new product launch, and presence of major players.
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Competitive Landscape
· The global Durable medical equipment (DME) market is fragmented in terms of number of players. Key players in the global market include Stryker Corporation, Medtronic plc., Medline Industries, Inc., BD, Hill-Rom Holdings, Inc., Drive DeVilbiss Healthcare, Inc., Invacare Corporation, Sunrise Medical (US) LLC, and ResMed, Inc
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Transparency Market Research (TMR) has published a new report titled, ‘Durable medical equipment (DME) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’.
According to the report, the global durable medical equipment (DME) market was valued at US$ 153.1 Bn in 2018 and is projected to expand at a CAGR of 6.2% from 2019 to 2027.Read Report Overview - https://www.transparencymarketresearch.com/durable-medical-equipment-market.htmlOverviewDurable Medical Equipment (DME) is any equipment that provides therapeutic benefits to a patient in need because of certain medical conditions and/or illnesses.
Durable Medical Equipment (DME) consists of items which are primarily and customarily used to serve a medical purpose.DME includes, wheelchairs (manual and electric), hospital beds, traction equipment, canes, crutches, walkers, kidney machines, ventilators, oxygen, monitors, pressure mattresses, lifts, nebulizers, electrical blankets etc.North America dominated the global durable medical equipment (DME) market in2018 and the trend is anticipated to continue during the forecast period.
Highly structured health care industry, research, and treatment platforms, rising incidence of chronic and cardiovascular diseases, and presence of a large number of manufacturers are expected to drive the market in North America.Asia Pacific is likely to be a highly lucrative market for durable medical equipment (DME) and it is expected to expand at a high CAGR during the forecast periodRequest Brochure – https://www.transparencymarketresearch.com/sample/sample.php?flag=B_id=21557High Incidence of Major Chronic Diseases and Increase in Geriatric Population to Drive MarketGrowing incidence of cardiac disorders, cancer, ophthalmic ailments, gynecological complications and neurological conditions helps to drive the product demand over the forecast period.
Better coverage and reimbursement policies for DME products are also likely to help boost the DME market growth.In addition, rising number of elderly care centers as a result of increasing geriatric population base across the globe is projected to drive the DME market further.
Such factors is likely to drive the growth of this marketRequest COVID Analysis on Durable Medical Equipment (DME) Market - https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19_id=21557Personal Mobility Devices Segment to Dominate MarketBased on equipment type, the global durable medical equipment (DME) market has been divided into personal mobility devices, bathroom safety devices, medical furniture and monitoring and therapeutic devices.
Global Durable Medical Equipment Market Research Report: Information by Device Type (Personal Mobility Devices, Medical Furniture, Monitoring and Therapeutic Devices, and Bathroom Safety Devices), End User (Hospital/Clinic, Ambulatory Surgical Center, Research Centers, Home Healthcare, and Others), and Region (the Americas, Europe, Asia-Pacific, and the Middle East & Africa)—Forecast till 2025The Global Durable Medical Equipment Market Analysis shows is anticipated to grow at a 6% CAGR between 2019-2025, states the latest Market Research Future (MRFR) report.
Also known as home medical equipment, they can be easily handled by the patient’s caregiver or family members.
Such factors, as per the latest Market Research Future report, include rising penetration of healthcare staff and services, increasing geriatric population, growing number of elderly care centers, favorable reimbursement policies and better coverage for the DME industry, and increasing incidence of gynecological complications, neurological conditions, ophthalmic ailments, cardiac disorders, and cancer.
On the contrary, high equipment and maintenance costs, scarcity of skilled professionals, and stringent regulatory guidelines are factors that may hamper the durable medical equipment market growth during the forecast period.
Durable Medical Equipment Market Key PlayersNotable players profiled in the durable medical equipment market report include Medical Device Depot, Inc. (US), Stryker (US), Hill-Rom (US), ArjoHuntleigh (UK), Masimo (US), Medline Industries Inc. (US), Koninklijke Philips NV (UK), Sunrise Medical (UK), Medtronic Inc. (Ireland), Invacare Corporation (US), GF Health Products Inc. (US), Getinge AB (US), GE Healthcare (US), and Compass Health Brand (US).
Durable Medical Equipment Industry NewsNovember 2019: SteriTouch has joined hands with Thermaset for developing innovative coatings, especially nylon-modified antimicrobial powder coat, to offer improved durability to hospital trollies.
The global durable medical equipment market is anticipated to grow exponentially and is expected that the market will register a CAGR of 6.9% during the forecast period.
Rising cases of cardiovascular and neurological disorders is a key factor fueling the growth of the global market.
Increasing surgical & outpatient procedures, the number of hospitals, and home healthcare services is projected to boost the demand for durable medical equipment, supporting the market growth further.
The increasing cases of COVID-19 across the world also contribute to the lucrative growth of the market as it fuels the demand for more advanced durable medical equipment that can help COVID patients in hospital settings.
This has also surged the necessity for research and development programs to invent new products to offer more comfortable facilities for patients suffering from life-threatening viruses such as COVID-19.
A rapid increase in patients who need long-term therapy and drug delivery is facilitating the demand for such medical equipment.
